NGX ASI Begins Week Bearish

Salamatu Ejembi

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The Nigerian equities market started the week’s trading with mixed sentiments albeit with a bearish tilt as the benchmark index shed 1bp.
Selloffs in GUARANTY TRUST HOLDING COMPANY PLC (-0.25%), FBN HOLDINGS PLC (-2.27%), ACCESS HOLDINGS PLC (-2.84%) and PRESCO PLC (-9.97%) offset gains in MTN NIGERIA COMMUNICATIONS PLC  (+0.50%), BUA CEMENT PLC (+0.47%) and ZENITH BANK PLC (+2.12%).
Thus, the All-Share Index closed flat at 49,657.33 points, while the market capitalisation shed a meager ₦3.64bn to close at ₦26.78trn.
Analysis of today’s market activities showed that a total of 210.84m units of shares valued at ₦2.19bn were exchanged in 4,122 deals.
E-TRANZACT INTERNATIONAL PLC was the most traded stock by volume at 52.55 million units, while GUARANTY TRUST HOLDING COMPANY PLC was the most traded stock by value at ₦315.92 million.
As measured by market breadth, market sentiment was negative with 17 stocks losing relative to 12 gainers.
PRESCO PLC (-9.97%) and MULTIVERSE MINING AND EXPLORATION PLC (–7.79%) topped the losers’ list, while NEIMETH INTERNATIONAL PHARMACEUTICALS PLC (+9.29%), and UNITY BANK PLC (+4.65%) recorded the most significant gains of the day.
Sectoral Performance was mixed, as the Industrial Goods (+0.2%), and Banking (+0.2%) indices advanced, while the Consumer Goods (-0.6%) and Oil & Gas (-0.4%) indices declined. The Insurance index was flat.
Hauwa Abu
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